From: Jeffrey Epstein <[email protected]> To: Tazia Smith Subject: Re: yen weakness commentary + zero-cost one-touch implementation... [C] Date: Thu, 21 Nov 2013 08:29:51 +0000 Inline-Images: unnamed; unnamed(1) lets do it On Tue, Nov 19, 2013 at 2:58 PM, Tazia Smith < wrote: Classification: Confidential Good Morning Jeffrey - I found this commentary below of interest, asserting that yen weakness (and Japanese equity strength) will be a result of strength in the US, not a direct result of Abenomics. See what you think. We still like the USDcJPYp zero-cost one touch (indicative levels below). Thoughts? Best Regards, Tazia — Forwarded by Tazia Smith/dbrdbcom on 11118/2013 11:03 Alvl From: 'Taisuke Tanaka, Deutsche Securities Inc." •‘: > To: Tazia Srnithidb/dbcom©DBAMERICAS. Date: 11/17/2013 10:41 PM Subject: DEutsche JApan View on FX - USD/JPY: Sell-enforcing trend Deutsche Securities Inc. - Fixed Income Research DEutsche JApan View on FX - USD/JPY: Self-enforcing trend 18 November 2013 (1 page/ 235 kb) Download the complete report When USD/JPY tries 103, market forecast can rise to 110 in 3-6 months The USD/JPY is a good proxy of the US economic recovery. Since the end of the first round of the "Abe market" in late May, the USD/JPY has stagnated along with the wavering outlook for the US EFTA01141333